China's State Council has announced a series of new policy measures aimed at stabilizing employment amid ongoing trade tensions with the United States. The government plans to expand job-stability loans and streamline access to these loans through enhanced cooperation between government agencies and banks. Additionally, the unemployment insurance refund ratio for firms will be increased, and the scope of social insurance subsidies will be broadened. The State Council also intends to strengthen monitoring of the employment situation to better respond to labor market challenges. These steps are part of a broader effort to support job stability and reduce unemployment in the current economic environment.
China Human Resources Ministry reports that 6.95 million urban jobs were created in the first half of the year, reaching 58% of the annual goal. 📈👷♂️
🇨🇳CHINA HUMAN RESOURCES MINISTRY: 6.95 MLN URBAN JOBS CREATED IN H1, COMPLETING 58% OF ANNUAL JOB CREATION TARGET. #CHINA #LABORMARKET $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG https://t.co/21eVspi1bl https://t.co/QagwErvXCO
China created 6.95 million urban jobs in the first half of the year, achieving 58% of its annual employment target, according to CCTV citing the Human Resources Ministry.